Upgrade Seeks Nevada Charter to Complement Existing Banking Relationships
By PYMNTS
AI summary of the source article
FinTech company Upgrade has applied to establish a Nevada-chartered industrial loan bank. The company submitted applications to the Nevada Financial Institutions Division and the FDIC.
Why it matters
Upgrade stated that establishing the bank "would complement the company’s existing relationships with bank partners and loan buyers."
Key facts
- Upgrade aims to establish a Nevada-chartered industrial loan bank.
- Applications were submitted to the Nevada Financial Institutions Division and the FDIC.
- The move is intended to complement existing relationships with bank partners and loan buyers.
Source excerpt · PYMNTS
FinTech company Upgrade aims to establish a Nevada-chartered industrial loan bank, saying in a Monday (Oct. 12) press release that this would complement the company’s existing relationships with bank partners and loan buyers. Upgrade announced in the release that it submitted applications to the Nevada Financial Institutions Division and the Federal Deposit Insurance Corporation (FDIC) […] The pos…